Guys, im getting bombarded with emails requesting an update from the swiss team and others.
Please double check their last report which stated the following:
“Due to traveling, the next regular weekly comment will be published on October 6th”
Nonetheless I do have some reports and a few comments which i will post up later today. The levels and tech remains exactly as she was a few weeks ago. Nothing much has changed here and id be truly surprised if any member here is shocked by any of the recent price action. To my mind its been text book and followed almost to a digit what we expected. The only asset class i’m struggling to get a clear direction on yet in fx between the major pairs ie eurusd, eurgbp, gbpusd. These three im still struggling with and am pretty even weight between them at present due to this.
Today’s housing data from the uk was strong and good uk housing data has historically a strongly positive correlation with strong gbp vs the usd. She has weakened considerably in recent months yet the data remains strong so we do have divergence here which is at extremes now. A counter recent trend rally back to 1.55 looks likely near term but on that level or thereabouts a renewal of usd strength looks the money trade.
Aside from fx, if you are not sleeping well due to asset price confusion here reduce your deal size is all i can recommend.
Update later today.
Rich